Abstract
In the last decade, FinTech is probably one of the hottest industries in the world, which also has a rapid development worldwide. As an innovation for finance, FinTech can undoubtedly bring subversive changes to the finance industry, but at the same time, it also produces various risks. The FinTech development in China is in a leading position in the world, but FinTech industry in China is also well known for unregulated and speculative market, which brings huge risks for investors. The coexistence of both financial innovation and risks has attracted attention from both academia and policy makers, so this field needs future thinking and research. This book focuses on China’ market and takes the development of FinTech and its accompanying risks as the main object, analyzing and discussing the economic principles of the development of FinTech. In the first chapter of the book, we give an overview of the development of FinTech industry in China.
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Notes
- 1.
We will discuss this point in more details in the subsequent chapters.
- 2.
The Chinese name of E Zu Bao is “E租宝”, and we will discuss this case in Chap. 3.
- 3.
The Chinese name is called “余额宝”.
- 4.
A third party payment system with Chinese name “快钱”.
- 5.
The theoretical foundation of collateral will be discussed in Chap. 6.
- 6.
In fact, there are 12 behaviors of P2P platforms that are defined as” risky” or “illegal”.
- 7.
To make the regulations precise, we also leave the Chinese names of each regulation in Table 1.2.
- 8.
The Chinese names of those companies are iFlytek (“科大讯飞”), Far Pass Technology(“远传科技”), NetEase Seven Fish(“网易七鱼”), Weier Technology(“微洱科技”).
References
AIF (2020) Global Fintech Hub Report. Available at: http://www.aif.zju.edu.cn/news/detail/1716.html
Ernest, Young (2019) Global FinTech Adoption Index. Available at: https://assets.ey.com/content/dam/ey-sites/eycom/en_gl/topics/banking-and-capital-markets/ey-global-fintech-adoption-index.pdf
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Qiu Z, Luo Y, Jiang Y, Wu C (2021) Is Fintech the gravedigger of traditional credit intermediaries? An economic analysis of credit based on big data. Stud Int Financ 8:35 –45
Schumpeter JA (1939) Business cycles, vol 1. McGraw-Hill, New York, pp 161–174
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Qiu, Z., Huo, X., Dai, Y. (2022). The Development of FinTech in China. In: Fintech and Financial Risk in China. Contributions to Finance and Accounting. Springer, Singapore. https://doi.org/10.1007/978-981-19-0288-8_1
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DOI: https://doi.org/10.1007/978-981-19-0288-8_1
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